The Bautistas sign a mortgage for $50,000 to be amortized over 20 years with a term of 5 years at 11% c.m. with equal monthly payments. On the date of the 19th payment, they make an additional payment...

Extracted text: The Bautistas sign a mortgage for $50,000 to be amortized over 20 years with a term of 5 years at 11% c.m. with equal monthly payments. On the date of the 19th payment, they make an additional payment of $25,000 subject to a penalty clause requiring a penalty of three times one month's interest on the prepaid principal. Find the balance at the end of the 5 year term.